Área de identidad
Tipo de entidad
Forma autorizada del nombre
House of Commons
Forma(s) paralela(s) de nombre
Forma(s) normalizada del nombre, de acuerdo a otras reglas
Otra(s) forma(s) de nombre
Identificadores para instituciones
Área de descripción
Fechas de existencia
Historia
The South Sea Company was founded in 1711 to trade with Spanish America, on the assumption that the War of the Spanish Succession would end with a treaty permitting such trade. The Treaty of Utrecht, 1713, was less favourable than had been hoped, but confidence in the Company remained artificially high. In 1720, there was an incredible boom in South Sea stock, as a result of the Company's proposal, accepted by parliament, to take over the national debt (South Sea Bubble). This eventually led to the collapse of the stock market in 1720 and the ruin of many investors. The House of Commons ordered an inquiry, which showed that at least three ministers had accepted bribes and speculated.